Direxion Daily S&P 500 Bear 3X Shares (SPXS) Shares Gap Down to $23.14

Shares of Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) gapped down before the market opened on Thursday . The stock had previously closed at $22.22, but opened at $23.14. Direxion Daily S&P 500 Bear 3X Shares shares last traded at $23.14, with a volume of 103362 shares changing hands.

Several institutional investors and hedge funds have recently modified their holdings of SPXS. UBS Group AG purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter worth $135,000. ING Groep NV purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter worth $238,000. SG Americas Securities LLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter worth $1,289,000. Lido Advisors LLC raised its stake in Direxion Daily S&P 500 Bear 3X Shares by 107.2% in the 2nd quarter. Lido Advisors LLC now owns 87,991 shares of the company’s stock worth $2,329,000 after acquiring an additional 45,519 shares during the last quarter. Finally, David R. Rahn & Associates Inc. raised its stake in Direxion Daily S&P 500 Bear 3X Shares by 59.6% in the 2nd quarter. David R. Rahn & Associates Inc. now owns 151,605 shares of the company’s stock worth $4,013,000 after acquiring an additional 56,622 shares during the last quarter.

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About Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification.

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